Avnet reports larger-than-expected dip in sales

First-quarter net income fell to $100.3 million, or 70 centsper share, from $139 million, or 90 cents per share, a yearearlier.

Excluding items, the company earned 59 cents per share.

Revenue fell 8.7 percent to $5.87 billion.

Analysts had expected earnings of 58 cents per share onrevenue of $5.89 billion, according to Thomson Reuters I/B/E/S.

The company, often considered an indicator of broader ITspending as it distributes everything from personal computers tomicrochips, earlier this month warned of depressed technologyspending. [ID: nL3E8LA54W]